|Boom after bust: legal claims against valuers|
|Written by Dave Hedgecock|
|Friday, 04 February 2011 10:57|
As lenders count their losses from the recession, 2011 could be the year that the number of lawsuits against property valuers explodes
Property is heading for another boom. But rather than yachts and champagne, this boom would be characterised by legal letters and court visits.
Professional negligence claims in the High Court have risen 130% from 147 in 2008 to 339 in 2009, Ministry of Justice figures published in December show.
Claims against surveyors and estate agents rose from one to 17 over that period. The hardest hit area is valuation, in an eerie echo of claims that soared after the late-1980s boom.
4 February 2011
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